Fannie Mae: Most Americans can't afford to live in thriving neighborhoods

Moody’s Investors Services | April 24, 2019

Housing affordability has been a tremendous concern for Americans across the country, especially as affordability conditions now sit at a 10-year low. In fact, a recent analysis form Moody’s Investors Services discovered that the era of unusually affordable housing has ended, therefore impacting the average Americans ability to navigate an already weakening market.

Spotlight

The fundamental truth that the value of the commercial real estate (CRE) is mostly based on location is becoming undermined by a new factor – information. While the fundamentals of real estate still matter, information on day-to-day building operations have the potential to add new ways for the CRE sector to improve net operating income (NOI), create value and differentiate from competitors. Specifically, the Internet of Things (IoT) is already having a significant impact on the CRE industry by helping properties use data to drive decision making. IoT applications are enabling dramatically more efficient building operations, which is enhancing tenant comfort and satisfaction.

Spotlight

The fundamental truth that the value of the commercial real estate (CRE) is mostly based on location is becoming undermined by a new factor – information. While the fundamentals of real estate still matter, information on day-to-day building operations have the potential to add new ways for the CRE sector to improve net operating income (NOI), create value and differentiate from competitors. Specifically, the Internet of Things (IoT) is already having a significant impact on the CRE industry by helping properties use data to drive decision making. IoT applications are enabling dramatically more efficient building operations, which is enhancing tenant comfort and satisfaction.

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REAL ESTATE ADVICE

Federal Realty Ranks First Among Peer Groups in 2022 GRESB Real Estate Assessment

Federal Realty | October 04, 2022

Federal Realty Investment Trust is pleased to announce that it has been recognized as a peer group leader in multiple categories in the 2022 Global Real Estate Sustainability Benchmark (GRESB) Real Estate Assessment. GRESB is a preeminent ESG benchmark for the real estate industry. The company earned the #1 ranking in the U.S. Publicly Listed Retail Centers peer group under the Standing Investments Benchmark Report and in the U.S. Diversified-Office/Residential peer group under the Development Benchmark Report. It also received an "A" Public Disclosure Score from GRESB for the second consecutive year and achieved "Green Star" recognition for the fifth year. The REIT was previously named "Development Sector Leader" in GRESB's 2020 Real Estate Assessment. "These GRESB results are an acknowledgment of the positive impacts of Federal's decades long focus on developing, building and operating its real estate assets in a way that is sustainable for the long-term, Federal's Board and management team share the expectations of our stakeholders that Federal act as a responsible corporate citizen and having a third party assessment by GRESB confirm that those expectations are being met is very gratifying." -David Faeder, Federal Realty's Non-Executive Chairman of the Board About Federal Realty Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty's mission is to deliver long-term, sustainable growth through investing in communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 105 properties include approximately 3,100 tenants, in 25 million square feet, and approximately 3,400 residential units. Federal Realty has increased its quarterly dividends to its shareholders for 55 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT.

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MARKET OUTLOOK,REAL ESTATE INVESTMENT

Northwood Investors Acquires Nashville's Fifth + Broadway

Northwood Investors | November 23, 2022

Global real estate investment firm Northwood Investors LLC announced today its acquisition of Fifth + Broadway, a newly developed 6.2-acre mixed-use, open-air center. The property was developed and operated by Brookfield Properties, which completed construction in 2021. Northwood has purchased the property in its entirety, including its retail district, 501 Commerce office tower and The Place residences, from a subsidiary of Brookfield. As Northwood expands its footprint in Nashville with this prized entertainment complex, it looks forward to furthering Brookfield's vision for the center. Northwood is well-positioned to take the reins in managing the project with its vertically integrated platforms and experience with retail and mixed-use assets. Most of Fifth + Broadway's management team have transitioned to Northwood and will continue in their existing roles, bringing their strong local experience and knowledge to the property. Northwood is already deeply involved in the Nashville market; this latest acquisition marks the fifth asset the firm has invested in within the city. Other properties include The Conrad hotel, Capital View apartments, the McEwen Northside mixed-use center and Franklin Park office towers. "We feel that Fifth + Broadway's energy and integration in the heart of downtown is unparalleled, As a mixed-use asset, all its elements work together cohesively, and Brookfield has done a phenomenal job with its development. Our Northwood management team is excited to carry on the torch, engage with the city, and partner with tenants like The National Museum of African American Music, AllianceBernstein, The Twelve Thirty Club, Assembly Food Hall and more." -Managing Director of Northwood Investors Erin Cannata Centrally located within Nashville's vibrant urban core, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of the city and the state of Tennessee. The revolutionary downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically selected retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce, 381 residential units at The Place at Fifth + Broadway and more than 2,000 parking spaces. The project, which sees nearly five million annual visitors, was built for a post-COVID-19 world with outdoor space, accessibility, safety and parking in mind. We feel Nashville is a high-growth market, and one that we have been watching since 2011, It's an 'it' city for business and entertainment and Fifth + Broadway epitomizes Nashville – a world-class, generational asset that draws locals and tourists alike. We believe the attention to detail, aesthetics and connectivity are unmatched, making it a transformative catalyst for the fabric of lower Broadway,said President of Northwood Retail Ward Kampf. Northwood is committed to the city of Nashville, which it values for its diversified economy, one-of-a-kind cultural authenticity, attractive cost of living, and premier talent base, which has transformed the city into a 24/7 destination. The firm looks forward to collaborating with the city, its retail and office tenants, and the National Museum for African American Music as it evolves this asset, which is seamlessly integrated into the streetscape and cultural heart of Downtown Nashville. Fifth + Broadway is a thriving mixed-use complex, and we are very proud of its development and success as a major destination in and economic driver for Nashville, While Brookfield has successfully recapitalized the asset in line with its overall investment strategy, we remain very interested in Nashville and excited about its future,said Burgin Dossett, vice president of development for Brookfield Properties. About Fifth + Broadway Owned and operated by Northwood Investors, Fifth + Broadway is one of the largest single-phase mixed-use developments in the history of Nashville and the state of Tennessee. The transformative downtown project, which replaced the 6.2-acre Nashville Convention Center site, delivers 250,000 square feet of strategically important retail and entertainment, the 56,000-square-foot National Museum for African American Music, 367,000 square feet of Class-A office space at 501 Commerce (headquarters of AllianceBernstein), 381 residential units at The Place at Fifth + Broadway, and more than 2,000 parking spaces. About Northwood Investors Northwood Investors LLC is a privately held real estate private equity firm that owns and operates real estate across the U.S. and Europe. The firm currently manages a portfolio aggregating approximately $20 billion in total gross asset value. Northwood's flagship fund seeks to opportunistically acquire well-located real estate with a plan to create value through hands-on asset management. Northwood is vertically integrated with in-house operating teams across the office, multifamily, retail, hospitality, and urban logistics sectors. About Northwood Retail Northwood Retail LLC was established by Northwood Investors, a privately held, global real estate investment and management firm. The platform currently leases, manages, and markets a portfolio of community and mixed-use properties across the United States with a concentration in Texas, Colorado, North Carolina, Tennessee, and California. Built upon strong, fundamental real estate principles, Northwood Retail is focused on creating value at each project through a disciplined approach to leasing, development, property management, and marketing. About Pacific Life For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World's Most Ethical Companies® by the Ethisphere Institute.

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REAL ESTATE INVESTMENT

REZI Launches in Austin with Rastegar Partnership

REZI | September 26, 2022

REZI, the pioneer of Occupancy-as-a-Service, has launched in Austin with a partnership with the city's leading developer, Rastegar Property Company. Rastegar is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the Southwest US. The partnership between REZI and Rastegar was announced today by Sean Mitchell, Co-Founder and CEO of REZI. This deal contracts over 200 apartments across 9 buildings with floor plans ranging from studios to 3-bedrooms in West Lake Hills, Mueller, Hyde Park, Highland Heights, Clarksville, South Austin. All units will be onboarded to REZI's innovative AI-powered leasing platform, where REZI will take ownership over all marketing and leasing providing Rastegar with a turnkey guaranteed leasing solution delivering higher asset NOIs across their portfolio. "We are thrilled to be partnering with the "King of Austin Real Estate" not only because Austin is a key market for us, but Rastegar and REZI share the mission of using technology and innovation to make finding and acquiring housing fair, transparent, and accessible for everyone," - Mitchell,Co-Founder and CEO of REZI We were immediately impressed with REZI and what they have provided the previous markets in which they've launched, In just a few years, they have become a highly reputable brand with nationwide outreach and a service that aligns perfectly with our needs and philosophy,said Ari Rastegar, Founder & CEO of Rastegar Property Company. The announcement of this partnership coincides with REZI's launch of their Texas Headquarters at 1920 Mckinney Ave in Uptown, Dallas. About REZI Founded in 2016, REZI leverages state-of-the-art leasing and financial technology to improve and optimize renters' leasing experience and improve property owners' leasing performance. REZI is a privately held company based in New York City. About Rastegar Property Company Rastegar Property Company is a technology-enabled private real estate investment firm focused on value-add and development in all asset classes throughout Austin and the southwest United States. Rastegar and its affiliates have co-invested in or directly own and operate over 13.8 million square feet of real estate across projects in 13 states and 35 cities. The firm specializes in acquiring complex or undervalued assets with opportunities to create value through repositioning, redevelopment, and/or improved operational efficiencies.

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